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Article: Alexander's bounces back
- Article from:
- The Record (Bergen County, NJ)
- Article date:
- February 26, 2008
- Author:
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JAMES QUIRK, STAFF WRITER
The Record (Bergen County, NJ)
02-26-2008
Alexander's bounces back -- REIT's shares jump on profit
By JAMES QUIRK, STAFF WRITER
Date: 02-26-2008, Tuesday
Section: BUSINESS
Edtion: All Editions
Alexander's Inc., a Paramus-based real estate investment trust managed by Vornado Realty Trust, said Monday that the company swung to a profit in the fourth quarter, after a stock compensation expense contributed to losses in 2006.
Funds from operations, an industry gauge of profitability, were $39.4 million, or $7.74 a share, compared with a loss of $68.9 million, or $13.70 a share, a year ago.
The company's shares climbed $16, or 5.1 percent, to $327 in New York Stock Exchange ...